Gov’t grants over Ks5 trillion to cooperatives in January

The government grants small loans to the cooperatives every year, with Ks5.15 trillion lent to 31,364 cooperatives this month.
But the cooperatives are allowed to take out loans only after paying off existing loans.
There are a total of 31,364 cooperatives in 290 townships across the nation, with 2,641,350 members.
The central cooperative sells agricultural tools at a cheap price. They will offer a small loan plan and instalment plan to the farmers in a bid to transition to mechanised farming.
Seventy per cent of Myanmar’s population lives in rural areas, depending mainly on agriculture for their livelihoods. The farmers are faced with financial problems because traditional cultivation cannot reap many benefits.
Therefore, the government formed agricultural cooperatives in all regions and states with an aim at providing agricultural machines to be utilised in the production chain from farm to mill.